The Swedish Ministry of Climate and Enterprise has submitted its inquiry report with proposals for transposing the EU Corporate Sustainability Due Diligence Directive (CSDDD) into national law.
Under the proposals, a new corporate responsibility act to implement the CSDDD requirements would enter into force from July 2029, and the National Board of Trade would be tasked with overseeing compliance with the law.
The inquiry estimates that between 70 and 90 Swedish companies would be scoped into the requirements.
For the largest companies (those with over €5bn in turnover), the average cost of ongoing annual compliance with the law is estimated to be 16.6m Swedish Krona. For smaller companies, this figure is estimated to be 3.3m Swedish Krona.
The inquiry report will be considered by the government, which will prepare its formal legislative proposal in due course.